TOLREMO therapeutics raises USD 39 Mio. Series A Financing round
by Tech Park Basel
TOLREMO therapeutics Completes USD 39 Million Series A Financing Round with Strategic Investment from Pierre Fabre Invest
Basel, September 20, 2023 – TOLREMO therapeutics AG (TOLREMO) today announced that it has completed its Series A financing, bringing the total amount raised to USD 39 million (CHF 34.1 million). BioMedPartners AG led the round with participation from a new investor, Pierre Fabre Invest, as well as existing investors. TOLREMO’s mission is to stop non-genetic cancer drug resistance as it emerges by dismantling cancer's earliest defenses to targeted therapies, thus surmounting a universal challenge for current and future targeted treatments.
TOLREMO’s lead candidate, TT125-802, is an orally available small molecule CBP/p300 bromodomain inhibitor that blocks critical transcriptional resistance pathways responsible for cancer’s early escape mechanisms to targeted therapies. The proceeds of the Series A round will support the initiation of a Phase 1 monotherapy dose escalation study evaluating the safety, pharmacokinetics, pharmacodynamics, and early signs of efficacy, including biological activity of TT125-802, in a range of solid tumor indications. Stepwise, TOLREMO will then advance to evaluating TT125-802 in combination with targeted therapies such as KRAS, EGFR or AR inhibitors in specific advanced solid tumor indications.
"Cancer drug resistance is a major impediment to the long-term survival of patients and is most often addressed in the later stages of treatment when genetic mutations have already rendered the cancer permanently impervious to therapy. At TOLREMO, we have developed TT125-802 to specifically block early, non-genetic resistance pathways to targeted treatments. In combination with therapeutic agents, such as KRAS, EGFR, AR inhibitors, or other targeted therapies, TT125-802 has the potential to prevent therapy evasion and significantly improve treatment durability," said Stefanie Flückiger-Mangual, PhD, co-founder and Chief Executive Officer of TOLREMO. "We value the continued commitment from our current investors and warmly welcome Pierre Fabre Laboratories, the second largest private French pharmaceutical group, into our syndicate of investors through their dedicated investment body. With this strong support, we aim to advance the development of TT125-802 to bring long-term benefits to cancer patients."
In conjunction with the financing, Julie M. Cherrington, PhD, an experienced life science executive with a track record of successfully bringing drugs into the clinic through to commercialization, has been appointed as Chair of the Board of Directors. In addition, Francesco Hofmann, PhD, Head of R&D for Medical Care at Pierre Fabre Laboratories, joined TOLREMO's Scientific Advisory Board. Dr. Hofmann has extensive experience in accelerating the delivery of new therapeutics, having facilitated the clinical development of more than twelve novel cancer drugs.
"TOLREMO has a very distinct scientific approach to providing rational combination therapies that preemptively address the problem of drug resistance in cancer treatment. TT125-802 inhibits transcriptional changes, which are central for resistance development to a multitude of targeted cancer therapies. This new investment is very consistent with our renewed strategy to focus our R&D portfolio on targeted therapies," commented Francesco Hofmann, Head of R&D for Medical Care at Pierre Fabre Laboratories and new member of TOLREMO's Scientific Advisory Board.
"I am truly impressed with TOLREMO’s achievements in discovering and advancing a highly differentiated new treatment approach originating from the analysis of non-genetic cancer resistance phenotypes," said Julie Cherrington, the new Chair of the TOLREMO Board of Directors. "I look forward to supporting the team at this critical juncture as the company advances its lead program into clinical development."
Julie M. Cherrington is a seasoned biotech industry leader and holds board roles across several firms, including Mirati Therapeutics Inc, Syncona, Sardona Therapeutics, KisoJi Biotechnology, MycRx, and Actym Therapeutics, where she is also the Chair. In addition, she is a Venture Partner at Brandon Capital Partners. Dr. Cherrington has a proven track record as a company leader in her roles as CEO and R&D head at numerous companies. Furthermore, her earlier career contributions at SUGEN and Gilead Sciences were instrumental to the development of multiple FDA-approved drugs. Dr. Cherrington completed a postdoctoral fellowship at the University of California, San Francisco, and received her PhD training in microbiology and immunology from the University of Minnesota and Stanford University. She also holds a B.S. in biology and M.S. in microbiology from the University of California, Davis.